Posted by: mcq on Thursday, February 01, 2007 A man who enables spending of taxpayers dollars like a drunken sailor on shore leave in Singapore has the temerity to lecture private business about executive compensation? "Government should not decide the compensation for America's corporate executives. But the salaries and bonuses of CEOs should be based on their success at improving their companies and bringing value to their shareholders," [President] Bush said in a speech on the U.S. economy in New York.Not only should government not decide, it is none of government's business, especially given the palaces it builds for itself and perks its elite enjoy. "America's corporate boardrooms must step up to their responsibilities. You need to pay attention to the executive packages that you approve. You need to show the world that America's business are a model of transparency and good corporate governance," he said.Yeah? Well when you have the "model of transparancy and good governance" then you can start worrying about other models. Until then my suggestion is to concentrate on cleaning up the mess in Washington DC. Perhaps compensation in that town ought to be decided on success at achieving transparency, cutting bureaucracy, spending less and eliminating intrusive and unneeded departments, bureaus and regulations. If that were the case, everyone in that town would be a pauper. |
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